Moishe Alexander – Introduction to Prince Edward Island

Funding in the amount of $1.0 million has been made available for the initiative through Canada’s Economic Action Plan, the federal government’s plan to stimulate the economy and create jobs during the global recession. The federal and provincial governments are contributing equally to this overall investment of $8.54 million under the amended Canada – Prince Edward Island Affordable Housing Program Agreement.

The Government of Canada wants to improve the quality of existing social housing for low-income seniors, single-parent families, recent immigrants and Aboriginal households. Canada’s Economic Action Plan provides $850 million under the Affordable Housing Initiative to provinces and territories for the renovation and retrofit of existing social housing. It also provides a total of $475 million, over two years, to build new rental housing, including $400 million for housing for low-income seniors and $75 million for housing for people with disabilities. Overall, the Economic Action Plan includes $2 billion for new and existing social housing, plus up to $2 billion in loans to municipalities for housing-related infrastructure.

“Through Year 2 of Canada’s Economic Action Plan, our Government remains committed to giving a hand-up to those who need it most here in Prince Edward Island,” said Senator Duffy. “That’s why we are proud to have invested in the construction and renovation of these units in Montague and Eastern PEI, which will go a long way to providing safe, affordable homes for years to come.”

“We’re pleased to partner with the federal government on these significant initiatives spanning areas from Eastern Kings to Southern Kings to Charlottetown,” said Minister Janice Sherry. “The majority of the projects being funded here today support the continued provision of essential services in rural communities, consistent with our government’s Rural Action Plan. In addition to two new housing developments, this funding will also help renovate several existing social housing buildings.”

Today’s announcement highlights funding of over $1 million for 12 projects providing housing to groups such as seniors and families and people with disabilities. The projects being supported through funding in today’s announcement are Forest Hills Rural Native Housing, Georgetown Family Housing, Mount Stewart Family Housing, Souris Family Housing, Vernon Bridge Rural Community Housing, Cardigan Seniors Housing, GF Holdings Inc., Charlottetown Family Housing and Bella Place Housing. Two of the projects are new developments. GF Holdings Inc. in Montague will provide 10 new units for seniors and Bella Place Housing in Charlottetown will provide eight new units for seniors and three new units for people with disabilities.

The project was built by EcoCité Developments and Les Constructions Sodero as part of Canada Mortgage and Housing Corporation’s (CMHC’s) EQuilibrium™ Sustainable Housing Demonstration Initiative, which encourages builders and developers to build the next generation of sustainable housing in Canada.

The Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for CMHC, was joined by Claude Trudel, Mayor, Verdun borough; Robert Deschamps, President of Les Constructions Sodero; and Christopher Sweetnam-Holmes, Principal, EcoCité Developments, at the official opening today.

“The Government of Canada is pleased to work with the housing sector to develop such innovative homes. We congratulate the Abondance Montréal: le Soleil project team on its winning design and commitment to environmental responsibility,” said Minister Finley. “Abondance Montréal: le Soleil gives people in this region an opportunity to see first-hand how we can create beautiful, healthy dwellings, conserve energy and resources, and reduce pollutant emissions.”

Abondance Montréal: le Soleil features a highly energy-efficient design, solar energy systems to generate electricity and hot water, high efficiency appliances, water-efficient fixtures and building materials with lower pollutant emissions. The three-storey triplex is located on an infill site in an established area of Verdun and represents a new approach to building in an urban environment. It also demonstrates how the principles of EQuilibrium™ Housing can play a key role in the delivery of healthy and more sustainable housing as part of the overall renewal of Canada’s inner cities.

Moishe Alexander remarks – The Abondance Montréal: le Soleil project team is benefitting from a contribution from CMHC to help defray costs relating to the design and documentation of the project, carrying out quality assurance, and commissioning and demonstrating the project to the general public. CMHC is also providing technical, marketing and promotional support to the team and is supporting long-term performance monitoring and reporting on the project. The other contributors include the Agence de l’efficacité énergétique (Québec), Hydro-Québec, the GeoExchange Coalition and Natural Resources Canada.

“Abondance Montréal: le Soleil is a response to the strong public interest for very green urban homes. This project proves that my vision for net-zero living is an affordable possibility for North America’s cities,” said Christopher Sweetnam-Holmes, Principal, EcoCité Developments. “EcoCité Developments looks forward to collaborating with developers, builders and investors to replicate the le Soleil model.”

Abondance Montréal: le Soleil is one of the winning projects in CMHC’s national EQuilibrium™ Sustainable Housing Demonstration Initiative competition that was launched in 2006. EQuilibrium™ Housing projects will be open to both the general public and professional audiences for tours, and then monitored for performance by CMHC for one year, once occupied.

EQuilibrium™ Housing offers a new approach to housing in Canada. It strives to balance our housing needs with those of our environment. It brings together the principles of occupant health and comfort, energy efficiency, renewable energy production, resource and water conservation, and reduced environmental impact.

CMHC has worked closely with many stakeholders to develop and deploy the EQuilibrium™ Sustainable Housing Demonstration Initiative. In particular, CMHC has collaborated closely with Natural Resources Canada which has contributed substantial research and development expertise and resources to advancing the initiative.

Moishe Alexander is aware that the Government of Canada wants to improve the quality of existing social housing for low-income seniors, single-parent families, recent immigrants and Aboriginal households. Canada’s Economic Action Plan provides $850 million under the Affordable Housing Initiative to provinces and territories for the renovation and retrofit of existing social housing.

Moishe Alexander presents video on Burin Peninsula for blog

The funding is being used for items such as the replacement of roofing, siding, windows and doors, and a complete retrofit of the interior, which can include the replacement of flooring, drywall, doors, kitchen and bathroom cupboards, flooring, counters and fixtures such as tubs, sinks and showers. The investment will significantly extend the life of these structures for future use.

As part of Budget 2010: The Right Investments — For Our Children and Our Future, the Provincial Government is investing $27 million for housing infrastructure projects, affordable housing and increased maintenance funding over the coming fiscal year. This renovation and retrofit work is in keeping with the goals of the Provincial Government’s Social Housing Plan for Newfoundland and Labrador — Secure Foundations, which outlines a new long-term vision for social housing aimed at improving the housing circumstances of lower-income households and helping to create healthier communities. A copy of the social housing plan is available at www.nlhc.nl.ca/SocialHsingPlan/report.pdf

The Honourable Fabian Manning, Senator for Newfoundland and Labrador, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC) and the Honourable Tom Hedderson, Minister of Transportation and Works and Minister Responsible for Newfoundland Labrador Housing (Housing), made the announcement today.

“Through Year 2 of Canada’s Economic Action Plan, our Government remains committed to giving a hand-up to those who need it most here in Newfoundland and Labrador,” said Senator Manning. “That’s why we are proud to have invested in the renovation and retrofit of these units, which will go a long way to providing safe, affordable homes for years to come.”

“Investing in our social housing infrastructure is a priority of the Williams Government and is part of our new long-term vision for social housing throughout the province,” said Minister Hedderson. “This renovation and retrofit work increases the longevity and energy efficiency of our existing housing portfolio and enables us to continue making more affordable social housing options available for Newfoundlanders and Labradorians as our government works towards its ultimate goal of eliminating poverty throughout the province.”

Canada’s Economic Action Plan builds on the Government of Canada’s commitment in 2008 of more than $1.9 billion, over five years, to improve and build new affordable housing and help the homeless.

“Higher multiple starts were nearly offset by a decline in single starts and rural area2 starts in April. As a result, total housing starts edged higher in April,” said Bob Dugan, Chief Economist at CMHC’s Market Analysis Centre.

The seasonally adjusted annual rate of urban starts increased by 5.1 per cent to 182,500 units in April. Urban multiple starts increased by 27.2 per cent to 98,600 units, while single urban starts decreased by 12.7 per cent to 83,900 units.

April’s seasonally adjusted annual rate of urban starts increased 16.4 per cent in British Columbia, 6.7 per cent in the Prairie region, 4.5 per cent in Ontario, and 1.1 per cent in Quebec. Urban starts decreased 3.3 per cent in Atlantic Canada.

Moishe Alexander presents remarks oh housing starts

Rural starts were estimated at a seasonally adjusted annual rate of 19,200 units in April.

As Canada’s national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of high quality, environmentally sustainable and affordable homes. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making vital decisions.

Moishe Alexander notes that the funding was made available through Canada’s Economic Action Plan, the federal government’s plan to stimulate the economy and create jobs during the global recession. Overall, the Economic Action Plan includes $2 billion for new and existing social housing, plus up to $2 billion in loans to municipalities for housing-related infrastructure. The federal and provincial governments are contributing equally to this overall investment of $96 million under the amended Canada – Nova Scotia Affordable Housing Program Agreement.

The Government of Canada wants to improve the quality of existing social housing for low-income seniors, single-parent families, recent immigrants and Aboriginal households. Canada’s Economic Action Plan provides $850 million under the Affordable Housing Initiative to provinces and territories for the renovation and retrofit of existing social housing. It also provides a total of $475 million, over two years, to build new rental housing, including $400 million for housing for low-income seniors and $75 million for housing for people with disabilities.

The Greystone project, located in Spryfield, will receive $5.9 million for repairs and renovation of 246 units for seniors and families. The Ida Mae Marriott project, also located in Spryfield, will receive $3.15 million to construct 15 new units and to regenerate six existing units for a total of 21 units, which includes 18 units for seniors and three units for people with disabilities. The remainder of nearly $5 million will be distributed amongst 10 projects (a total of 950 units for seniors and families) located throughout HRM for repairs and renovations. Repairs to the housing projects will include exterior refurbishments, including roofs, siding, windows and doors, in addition to interior upgrades to kitchens.

The Honourable Peter MacKay, Minister of National Defence, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), along with the Honourable Denise Peterson-Rafuse, Nova Scotia Minister of Community Services, made the announcement today.

“Our Government remains committed through our ongoing Economic Action Plan to giving a hand-up to those who need it most here in Nova Scotia,” said Minister MacKay. “That’s why we’re proud to be investing in the construction and renovation of these units in Halifax, which will provide safe, affordable homes for years to come.”

“The province is committed to making life better for families in Nova Scotia. Housing is a fundamental part of the equation,” said Minister Peterson-Rafuse. “We are very happy to improve and increase affordable housing in metro Halifax. This investment will mean more families, seniors, and people with disabilities will be living in safe, comfortable, accessible homes.”

Renovations and Retrofits in Labrador – Moishe Alexander

The funding was made available through Canada’s Economic Action Plan, which is a federal plan to stimulate the economy and create jobs during the global recession. Overall, the Economic Action Plan includes $2 billion for new and existing social housing, plus up to $2 billion in loans to municipalities for housing-related infrastructure. The Federal and Provincial governments are contributing equally to this overall investment of $58 million under the amended Canada – Newfoundland and Labrador Affordable Housing Program Agreement.

The Government of Canada wants to improve the quality of existing social housing for low-income seniors, single-parent families, recent immigrants and Aboriginal households. Canada’s Economic Action Plan provides $850 million under the Affordable Housing Initiative to provinces and territories for the renovation and retrofit of existing social housing.

The funding is being used for items such as the replacement of roofing, siding, windows and doors, and a complete retrofit of the interiors, which can include the replacement of flooring, drywall, doors, kitchen and bathroom cupboards, flooring, counters and fixtures such as tubs, sinks and showers. The investment will significantly extend the life of these structures for future use.
As part of Budget 2010: The Right Investments — For Our Children and Our Future, the Provincial Government is investing $27 million for housing infrastructure projects, affordable housing and increased maintenance funding over the coming fiscal year. This renovation and retrofit work is also in keeping with the goals of the Provincial Government’s Social Housing Plan for Newfoundland and Labrador — Secure Foundations, which outlines a new long-term vision for social housing aimed at improving the housing circumstances of lower-income households and helping to create healthier communities. A copy of the social housing plan is available at www.nlhc.nl.ca/SocialHsingPlan/report.pdf.

The Honourable Peter MacKay, Minister of National Defence, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), and the Honourable Tom Hedderson, Minister of Transportation and Works and Minister Responsible for Newfoundland Labrador Housing, made the announcement today.

“Through our ongoing Economic Action Plan, our Government remains committed to giving a hand-up to those who need it most here in Newfoundland and Labrador. That’s why we’re proud to be investing in the renovation and retrofit of these 125 units,” said Minister MacKay. “These projects are a good way to get the local economy moving, because they put construction workers and tradespeople to work quickly, while also providing safe, affordable homes for years to come.”

“This renovation and retrofit work will move Newfoundland Labrador Housing and our Provincial Government closer to addressing the need for decent, safe and affordable housing throughout the province,” said Minister Hedderson. “Our government understands how important adequate housing is to the physical and emotional health, and productivity of families, individuals, seniors and persons with disabilities as well as to their communities.”

Canada’s Economic Action Plan builds on the Government of Canada’s commitment in 2008 of more than $1.9 billion, over five years, to improve and build new affordable housing and help the homeless.

Bruce Stanton, Member of Parliament for Simcoe-North, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), and Vic Dhillon, Member of Provincial Parliament for Brampton West, on behalf of Jim Bradley, Ontario’s Minister of Municipal Affairs and Housing, along with Emil Kolb, Chair, Region of Peel made the announcement.

“Our government is dedicated to giving a hand-up to those who need it most through these tough economic times” said MP Stanton. “Through projects like this, our government is providing safe, affordable housing to many residents in our community while creating jobs and stimulating our economy.”

“The province is committed to helping people with special needs living on lower or fixed incomes stay in their home communities,” said MPP Vic Dhillon. “These 30 new affordable rental units are going to make a positive difference in the lives of these individuals. The construction is also part of our Open Ontario plan to create jobs and economic opportunities in the Peel region.”

“The Region of Peel is pleased to celebrate the opening of Nance Horwood Place with our federal and provincial partners and the new residents,” said Chair Emil Kolb, Region of Peel. “We are proud to have also partnered with Supportive Housing in Peel which provides on-site programs and services for residents in a supportive community environment.”

Brampton Housing – video presented for blog by Moishe Alexander

Nance Horwood Place, a 30 unit project located at 529 Main Street North in Brampton received $4.2 million through the Canada – Ontario Affordable Housing Program. The building will be occupied by seniors with special needs. The federal and provincial funding is complemented by $2.1 million from Regional housing development reserves.

“Supportive Housing In Peel, in partnership with the Region of Peel, is pleased to celebrate the opening of Nance Horwood Place,” said Laurie Ridler, CEO of SHIP. “This building creates increased housing for older adults and an exceptional opportunity for services to the tenants of these independent-living apartments that extends to the campus of care and reaches into the community of Brampton.”

The Canada – Ontario Affordable Housing Program Agreement comprises a commitment of $301 million from each of the two senior levels of government. In total, the federal, provincial and municipal governments will invest at least $734 million in the program, which will provide affordable housing for up to 20,000 households in Ontario.

In 2008, the Government of Canada committed more than $1.9 billion over the next five years to improve and build new affordable housing and to help the homeless. Canada’s Economic Action Plan builds on this with an additional one-time investment of more than $2 billion over two years for new and existing social housing, plus up to $2 billion in loans to municipalities for housing-related infrastructure. Combined for Ontario, this means a further $1.2-billion joint investment under the amended Canada – Ontario Affordable Housing Program Agreement. The federal and provincial governments are contributing equally to this overall investment.

That finding so rankled the Naples Chamber of Commerce and area real estate agents that they hired economists to dispute the evaluation, according to Richard DeKaser, the real estate consultant who engineered the report for National City.

What a difference four years makes.

Today, Naples real estate sells at a 29% discount and the median home price is just $165,500, down from more than $390,000, according to the newly released 2010 report compiled by IHS Global Insight and PNC Financial Services (PNC, Fortune 500) (which bought National City).

Nationwide, just 87 markets are considered overvalued, and Naples is now the 15th most undervalued area. Nearly all markets — 242 of 330 — are considered priced below fair market.

In June, 8.7% more homes were sold than in May. It’s the fifth straight month of increases — a 17.9% increase over June 2008.

“This rebound reflects the releasing of a pent-up demand by buyers who moved to the sidelines towards the end of last year,” said CREA chief economist Gregory Klump.

“Now there are signs the worst of the recession may be behind us, those people are emerging.”

The bounce back was strongest in British Columbia, where 39.8% more homes were sold in June this over the same month last year. According to the CREA report, Ontario was up 15.7%, Quebec 9.8%, Alberta 22.2%, Saskatchewan 25.2% and Manitoba 0.2%.

This surge in home buying came despite a decision by Canada’s five big banks last month to raise five-year fixed mortgage rates 40 basis points from 5.45% to 5.85%.

The decision was made despite the Bank of Canada’s efforts to keep borrowing low by pledging to hold interest rates at the historic low of 0.25% until the middle of 2010.

Mary Webb, a senior economist with Scotiabank, says the low long-term interest rates in the spring were a reflection of a global economy with almost no signs of growth and that was bound to change.

“Now we’re looking for a recovery, and not just in Canada but globally, and we’re seeing it already in China and we expect growth to strengthen later this year and early next,” Webb said.

With more people borrowing, banks are being forced to pay more to borrow the money they lend to home buyers, and that drives up long-term interest rates, she said.

http://www.torontosun.com/news/canada/2009/07/15/10136046-sun.html

brought by Alexander Moishe, Canadian Funding Corp CEO

http://www.counterpunch.org/roberts07162009.html

There is no economy left to recover. The U.S. manufacturing economy was lost to offshoring and free trade ideology. It was replaced by a mythical “New Economy.”

The “New Economy” was based on services. Its artificial life was fed by the Federal Reserve’s artificially low interest rates, which produced a real estate bubble, and by “free market” financial deregulation, which unleashed financial gangsters to new heights of debt leverage and fraudulent financial products.

The real economy was traded away for a make-believe economy. When the make-believe economy collapsed, Americans’ wealth in their real estate, pensions, and savings collapsed dramatically while their jobs disappeared.

The debt economy caused Americans to leverage their assets. They refinanced their homes and spent the equity. They maxed out numerous credit cards. They worked as many jobs as they could find. Debt expansion and multiple family incomes kept the economy going.

And now suddenly Americans can’t borrow in order to spend. They are over their heads in debt. Jobs are disappearing. America’s consumer economy, approximately 70 percent of GDP, is dead. Those Americans who still have jobs are saving against the prospect of job loss. Millions are homeless. Some have moved in with family and friends; others are living in tent cities.

Meanwhile the U.S. government’s budget deficit has jumped from $455 billion in 2008 to $2,000 billion this year, with another $2,000 billion on the books for 2010. And President Obama has intensified America’s expensive war of aggression in Afghanistan and initiated a new war in Pakistan.

There is no way for these deficits to be financed except by printing money or by further collapse in stock markets that would drive people out of equity into bonds.

The US government’s budget is 50 percent in the red. That means half of every dollar the federal government spends must be borrowed or printed. Because of the worldwide debacle caused by Wall Street’s financial gangsterism, the world needs its own money and hasn’t $2 trillion annually to lend to Washington.

As dollars are printed, the growing supply adds to the pressure on the dollar’s role as reserve currency. Already America’s largest creditor, China, is admonishing Washington to protect China’s investment in U.S. debt and lobbying for a new reserve currency to replace the dollar before it collapses. According to various reports, China is spending down its holdings of U.S. dollars by acquiring gold and stocks of raw materials and energy.

The price of 1-ounce gold coins is $1,000 despite efforts of the U.S. government to hold down the gold price. How high will this price jump when the rest of the world decides that the bankruptcy of “the world’s only superpower” is at hand?

And what will happen to America’s ability to import not only oil but also the manufactured goods on which it is import-dependent?

When the oversupplied U.S. dollar loses the reserve currency role, the U.S. will no longer be able to pay for its massive imports of real goods and services with pieces of paper. Overnight, shortages will appear and Americans will be poorer.

Nothing in Presidents Bush and Obama’s economic policy addresses the real issues. Instead, Goldman Sachs was bailed out, more than once. As Eliot Spitzer said, the banks made a “bloody fortune” with U.S. aid.

It was not the millions of now homeless homeowners who were bailed out. It was not the scant remains of American manufacturing — General Motors and Chrysler — that were bailed out. It was the Wall Street banks.

According to Bloomberg.com, Goldman Sachs’ current record earnings from their free or low-cost capital supplied by broke American taxpayers has led the firm to decide to boost compensation and benefits by 33 percent. On an annual basis, this comes to compensation of $773,000 per employee.

This should tell even the most dimwitted patriot whom “their” government represents.

The worst of the economic crisis has not yet hit. I don’t mean the rest of the real estate crisis that is waiting in the wings. Home prices will fall further when the foreclosed properties currently held off the market are dumped. Store and office closings are diminishing the ability of owners of shopping malls and office buildings to make their mortgage payments. Commercial real estate loans were also securitized and turned into derivatives.

The real crisis awaits us. It is the crisis of high unemployment, of stagnant and declining real wages confronted with rising prices from the printing of money to pay the government’s bills and from the dollar’s loss of exchange value. Suddenly Wal-Mart prices will look like Nieman Marcus prices.

Retirees dependent on state pension systems, which cannot print money, might not be paid, or might be paid with IOUs. They will not even have depreciating money with which to try to pay their bills. Desperate tax authorities will squeeze the remaining life out of the middle class.

Nothing in Obama’s economic policy is directed at saving the U.S. dollar as reserve currency or the livelihoods of the American people. Obama’s policy, like Bush’s before him, is keyed to the enrichment of Goldman Sachs and the armament industries.

Matt Taibbi describes Goldman Sachs as “a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money.” Look at the Goldman Sachs representatives in the Clinton, Bush, and Obama administrations. This bankster firm controls the economic policy of the United States.

Little wonder that Goldman Sachs has record earnings while the rest of us grow poorer by the day.

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http://gata.org/node/7601

reviewed by Moishe Alexander, CFC Canadian Funding Corp CEO